f6 2012 syllabus and excluded syllabus
TRANSCRIPT
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ACCA 2012 All rights reserved.1
Taxation Malaysia(MYS)(F6)December 2012 & June
2013This syllabus and study guide is designed to help
with planning study and to provide detailed
information on what could be assessed in
any examination session.
This diagram shows direct and indirect links
between this paper and other papers preceding or
following it. Some papers are directly underpinned
by other papers such as Advanced Performance
Management by Performance Management. These
links are shown as solid line arrows. Other papers
only have indirect relationships with each other
such as links existing between the accounting and
auditing papers. The links between these are shown
as dotted line arrows. This diagram indicates where
you are expected to have underpinning knowledgeand where it would be useful to review previous
learning before undertaking study.
This explains briefly the overall objective of the
paper and indicates in the broadest sense the
capabilities to be developed within the paper.
This papers aim is broken down into several main
capabilities which divide the syllabus and study
guide into discrete sections.
This diagram illustrates the flows and links between
the main capabilities (sections) of the syllabus and
should be used as an aid to planning teaching and
learning in a structured way.
This is a narrative explaining how the syllabus is
structured and how the main capabilities are linked.
The rationale also explains in further detail what the
examination intends to assess and why.
This shows the breakdown of the main capabilities
(sections) of the syllabus into subject areas. This is
the blueprint for the detailed study guide.
This section briefly explains the structure of the
examination and how it is assessed.
This is the main document that students, tuition
providers and publishers should use as the basis of
their studies, instruction and materials.
Examinations will be based on the detail of the
study guide which comprehensively identifies what
could be assessed in any examination session.
The study guide is a precise reflection and
breakdown of the syllabus. It is divided into sections
based on the main capabilities identified in the
syllabus. These sections are divided into subjectareas which relate to the sub-capabilities included
in the detailed syllabus. Subject areas are broken
down into sub-headings which describe the detailed
outcomes that could be assessed in examinations.
These outcomes are described using verbs
indicating what exams may require students to
demonstrate, and the broad intellectual level at
which these may need to be demonstrated
(*see intellectual levels below).
ACCA's Approved Learning Partner - content (ALP-
c) is the programme through which ACCA approves
learning materials from high quality content
providers designed to support study towards ACCAs
qualifications.
ACCA has one Platinum Approved Learning Partner
content which is BPP Learning Media. In addition,
there are a number of Gold Approved Learning
Partners - content.
For information about ACCA's
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Approved Learning Partners - content, please go to
ACCA's Content Provider Directory.
The Directory also lists materials by Subscribers,
these materials have not been quality assured by
ACCA but may be helpful if used in conjunction with
approved learning materials. You will also
find details of Examiner suggested Additional
Reading which may be a useful supplement to
approved learning materials.
ACCA's Content Provider Directory can be found
here
http://www.accaglobal.com/learningproviders/alpc/c
ontent_provider_directory/search/.
Relevant articles will also be published in StudentAccountant.
The syllabus is designed to progressively broaden
and deepen the knowledge, skills and professional
values demonstrated by the student on their way
through the qualification.
The specific capabilities within the detailed
syllabuses and study guides are assessed at one ofthree intellectual or cognitive levels:
Level 1: Knowledge and comprehension
Level 2: Application and analysis
Level 3: Synthesis and evaluation
Very broadly, these intellectual levels relate to the
three cognitive levels at which the Knowledge
module, the Skills module and the Professional level
are assessed.
Each subject area in the detailed study guide
included in this document is given a 1, 2, or
3 superscript, denoting intellectual level, marked at
the end of each relevant line. This gives an
indication of the intellectual depth at which an area
could be assessed within the examination. However,
while level 1 broadly equates with the Knowledge
module, level 2 equates to the Skills module and
level 3 to the Professional level, some lower level
skills can continue to be assessed as the student
progresses through each module and level. This
reflects that at each stage of study there will be arequirement to broaden, as well as deepen
capabilities. It is also possible that occasionally
some higher level capabilities may be assessed at
lower levels.
The ACCA qualification does not prescribe or
recommend any particular number of learning hours
for examinations because study and learning
patterns and styles vary greatly between people and
organisations. This also recognises the wide
diversity of personal, professional and educational
circumstances in which ACCA students find
themselves.
As a member of the International Federation of
Accountants, ACCA seeks to enhance the educationrecognition of its qualification on both national and
international education frameworks, and with
educational authorities and partners globally. In
doing so, ACCA aims to ensure that its qualifications
are recognized and valued by governments,
regulatory authorities and employers across all
sectors. To this end, ACCA qualifications are
currently recognized on the education frameworks in
several countries. Please refer to your national
education framework regulator for further
information.
Each syllabus contains between 23 and 35 main
subject area headings depending on the nature of
the subject and how these areas have been broken
down.
The structure of examinations varies within and
between modules and levels.
The Fundamentals level examinations contain
100% compulsory questions to encourage
candidates to study across the breadth of each
syllabus.
The Knowledge module is assessed by equivalent
two-hour paper based and computer based
examinations.
The Skills module examinations are all paper based
three-hour papers. The structure of papers varies
from ten questions in the Corporate and BusinessLaw(F4) paper to four 25 mark questions in
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ACCA 2012 All rights reserved.3
Financial Management(F9). Individual questions
within all Skills module papers will attract between
10 and 30 marks.
The Professional level papers are all three-hour
paper based examinations, all containing two
sections. Section A is compulsory, but there will be
some choice offered in Section B.
For all three hour examination papers, ACCA has
introduced 15 minutes reading and planning time.
This additional time is allowed at the beginning of
each three-hour examination to allow candidates to
read the questions and to begin planning their
answers before they start writing in their answer
books. This time should be used to ensure that all
the information and exam requirements are properlyread and understood.
During reading and planning time candidates may
only annotate their question paper. They may not
write anything in their answer booklets until told to
do so by the invigilator.
The Essentials module papers all have a Section A
containing a major case study question with all
requirements totalling 50 marks relating to this
case. Section B gives students a choice of two fromthree 25 mark questions.
Section A of both the P4 and P5 Options papers
contain one 50 mark compulsory question, and
Section B will offer a choice of two from three
questions each worth 25 marks each.
Section A of each of the P6 and P7 Options papers
contains 60 compulsory marks from two questions;
question 1 attracting 35 marks, and question 2
attracting 25 marks. Section B of both these
Options papers will offer a choice of two from three
questions, with each question attracting 20 marks.
All Professional level exams contain four
professional marks.
The pass mark for all ACCA Qualification
examination papers is 50%.
ACCA reserves the right to examine anything
contained within the study guide at any examination
session. This includes knowledge, techniques,
principles, theories, and concepts as specified.
For the financial accounting, audit and assurance,
law and tax papers except where indicated
otherwise, ACCA will publish examinable
documentsonce a year to indicate exactly
what regulations and legislation could potentially be
assessed within identified examination sessions..
For paper based examinations regulation or
legislation on or before 30th September
annually, will be assessed from June 1st of the
following year to May 31st of the year after. .Please refer to the examinable documents for the
paper (where relevant) for further information.
Regulation issued or legislation passed in
accordance with the above dates may be
examinable even if the date is in the future.
The term issued or passed relates to when
regulation or legislation has been formally approved.
The term effective relates to when regulation or
legislation must be applied to an entity transactions
and business practices.
The study guide offers more detailed guidance on
the depth and level at which the examinable
documents will be examined. The study guide
should therefore be read in conjunction with the
examinable documents list.
Malaysia is one of the exceptions to this rule due to
the timing of legislation, and the annual cut-off datefor F6 (MYS) is 31 March.
Legislation must have been passed by 31 March inorder to become examinable in examinationsessions being held in December of the same yearand in June the following calendar year. This meansthat all legislation having been passed by 31 March2012 will be examinable in December 2012 andJune 2013 examinations.
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Syllabus
To develop knowledge and skills relating to the tax
system as applicable to individuals and companies.
After completing this examination paper students
should be able to:
Explain the operation and scope of the tax
system
Explain and compute the income tax liabilities
of individuals
Explain and compute the income tax liabilities
of companies
Explain and compute real property gains tax
Explain and compute sales tax
Explain and compute service tax
Identify and explain the obligations of
taxpayers, taxable persons, employers and/or
their agents and the implications of non-
compliance.
The Malaysian tax system
Income tax
liabilities
(individuals)
Income tax
liabilities
(companies)
Sales tax
Service tax
The obligations of taxpayers/taxable persons/employers and/or their agents
RELATIONAL DIAGRAM OF MAIN CAPABILITIES
Real property
gains tax
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The syllabus for Paper F6 (MYS) Taxation Malaysia
introduces candidates to the subject of taxation and
provides the core knowledge of the underlying
principles and major technical areas of taxation, as
they affect the activities of individuals and
businesses.
Candidates are introduced to the rationale behind
and the functions of the tax system. The syllabus
then considers the separate taxes that an
accountant would need to have a detailed
knowledge of, such as income tax from self
employment, employment and investments; the
income tax liability of companies and the sales tax
and service tax liability of businesses.
Having covered the core areas of the basic taxes,
the candidate should be able to compute tax
liabilities, explain the basis of their calculations,
apply tax planning techniques for individuals and
companies and identify the compliance issues for
each major tax through a variety of business and
personal scenarios and situations.
1. The overall function and purpose of taxation in
a modern economy
2. Different types of taxes
3. Principal sources of revenue law and practice
4. Tax avoidance and tax evasion
1. The scope of income tax
2. Income from employment
3. Income from self-employment
4. Income from investments and other sources
5. The comprehensive computation of taxable
income and income tax liability
6. The use of exemptions and reliefs in deferring
and minimising income tax liabilities
1. The scope of income tax
2. Income chargeable to income tax
3. The comprehensive computation of income
tax liability
4. The use of exemptions and reliefs in deferring
and minimising income tax liabilities.
1. The scope of real property gains tax
2. The basic principles of computing chargeable
gains and allowable losses.
3. Gains and losses on the disposal of real
property
4. The computation of the real property gains tax
payable
5. The use of exemptions and reliefs in deferringand minimising tax liabilities arising on the
disposal of real property
1. The scope of sales tax
2. The sales tax registration requirements
3. The computation of sales tax liabilities
4. Collection, recovery, drawback, refund,
remission and exemption
1. The scope of service tax
2. The service tax registration requirements
3. The computation of service tax liabilities
4. Collection, recovery, refund, remission andexemption
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1. The systems for self-assessment/assessment
and the making of returns
2. The time limits for the submission of
information, claims and payment of tax,
including payments on account
3. Withholding of tax at source
4. The procedures relating to enquiries, appeals
and disputes
5. Penalties for non-compliance
The syllabus is assessed by a three-hour paper-
based examination.
The paper will be mainly computational and will
have five questions, all of which will be compulsory.
Questions one and two will be for a total of 55marks with one of the questions being for 30
marks and the other for 25 marks. One of these
two questions will focus on income tax for
individuals and the other question will focus on
income tax for companies.
Question three will be for 20marks and will beon any area of the syllabus.
Question four will be for 15 marks, and willbe on any area of the syllabus.
Question five will be for 10 marks and will beon any area of the syllabus.
There will always be a minimum of 10 marks
on sales tax and/or service tax in any paper.These marks might be included as part of a
question or there might be a separate question
on sales tax and/ or service tax.
Any of the five questions might include the
consideration of issues relating to the
minimisation or deferral of tax liabilities.
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Study Guide
a) Describe the purpose (economic, social etc) of
taxation in a modern economy.
a) Identify the different types of capital and
revenue tax.
b) Explain the difference between direct and
indirect taxation.
a) Describe the overall structure of the Malaysian
tax system.
b) State the different sources of revenue law.
a) Explain the difference between tax avoidance
and tax evasion.
b) Explain the need for an ethical and professional
approach.
Anti-avoidance legislation.
a) Explain how the residence of an individual is
determined.
b) Recognise income of non-residents which is
subject to withholding tax.[2]
c) Foreign income.
Double taxation relief.
Non-resident relief. Income from trusts and settlements.
a) Recognise the factors that determine whether
an engagement is treated as employment or
self-employment.
b) Recognise the basis of assessment for
employment income.
c) Explain the basis period to which gross income
from an employment is related.
d) Explain the income derived/deemed derived
from Malaysia.
e) Compute the statutory income.
f) Recognise the allowable deductions, including
travelling expenses.
g) Explain the STD system.
h) Compute the amount of benefits assessable.
i) Discuss the formula method v. the prescribedvalue method of calculating car benefits.
j) Recognise benefits assessable under s.13(1)(a)
and s. 13(1)(b) respectively.[2]
k) Explain the tax treatment of living
accommodation provided by employer.
Share and share option incentive schemes foremployees.
Payments on the termination of employment,and other lump sums received by employees.
a) Recognise the basis of assessment for self-
employment income.
b) Describe and apply the badges of trade.
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c) Recognise the expenditure that is allowable in
calculating the adjusted income.
d) Explain the treatment of domestic or private
expenses and the private use of a car.
e) Recognise the expenditure that is specifically
not allowable in calculating the adjusted
income.
f) Compute the statutory income from a business
source.
g) Capital allowances
i) Define plant and machinery for capital
allowances purposes
ii) Compute annual allowances
and initial allowances iii) Compute capital allowances for motor
cars
iv) Compute balancing allowances and
balancing charges
v) Explain the treatment of small value
assets
vi) Define an industrial building for industrial
buildings allowance purposes
vii) Compute industrial buildings allowance
viii) Compute the balancing
allowance or balancing chargeon the disposal of an industrial building
ix) Compute agriculture allowances and
charges[2]
h) Relief for business losses
i) Understand how relief for current year
adjusted losses can be claimed against
aggregate income
ii) Explain how unabsorbed adjusted losses
can be carried forward
iii) Understand how unabsorbed adjusted
losses brought forward can be claimed
against the total amount of statutory
income of all businesses
i) Partnerships
i) Define partnership and explain how income
from a partnership is assessed to tax
ii) Compute the statutory income from a
partnership for each partner [2]
iii) Compute the statutory income for each
partner following a change in the profit
sharing ratio
iv) Compute the statutory income for each
partner following a change in the
membership of the partnership
v) Describe the relief available to a
partner in respect of an adjusted loss
Research and development expenditure Tax relief for increased exports. Capital allowances on a disposal subject to
control.
Forest expenditure. Capital expenditure on mines. Expenditure on prospecting operations. Taxation of special types of activity. Taxation of special persons. Taxation of Islamic instruments and
transactions.
Tax incentives.
a) Compute the income from each source
i) Dividends, interest or discounts
ii) Rents, royalties or premiums
iii) Pensions, annuities or other periodical
payments not falling under any of the
foregoing paragraphs
iv) Gains or profits not falling under any of the
foregoing paragraphs
The transition to the single tier dividend system
a) Prepare a basic income tax computation
involving different types of income.
b) Calculate the amount of personal reliefs andother deductions for an individual, and for a
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married couple under joint/separate
assessment.
c) Compute the amount of income tax payable
under joint/separate assessment.
d) The taxability of maintenance and alimony
received and reliefs for the payments.
e) Compute tax rebates.
f) Recognise the deductions allowable against
aggregate income.[2]
The income of minor children.
a) Explain and compute the relief given for
insurance premiums.
b) Describe the relief given for contributions to
approved provident funds.
c) Explain how a married couple can minimise
their tax liabilities.
d) Explain the tax implications of a married
couple under joint/separate assessment.[2]
a) Define the terms basis year, basis period and
accounting period.
b) Determine the basis period
i) Recognise the factors that will influence
the choice of accounting date [2]
ii) Determine the basis period on
commencement of operations [2]
iii) Determine the basis period on a change of
accounting date [2]
iv) Compute the statutory income on a change
of accounting date [2]
c) Explain how the residence of a company is
determined.[2]
d) Describe and apply the badges of trade.[2]
Group relief for losses Investment companies Companies in receivership or liquidation. Reorganisations. The purchase by a company of its own shares. Taxation of special types of activity Taxation of special persons Taxation of Islamic instruments and
transactions
Tax relief for increased exports Tax incentives
a) Recognise the expenditure that is allowable in
calculating the adjusted income.
b) Explain how relief can be obtained for pre-
commencement expenditure.
c) Compute capital allowances (as for income
tax liabilities of individuals).
d) Compute income from business and non
business sources.
e) Recognise the expenditure that is allowed for
double deduction in calculating adjusted
income.
f) Explain the treatment of approved donations
and other deductions that can be set off
against aggregate income.
g) Understand how adjusted losses can be carried
forward.
h) Understand how current year adjusted losses
can be claimed against the aggregate incomeof the current basis period.
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i) Recognise the expenditure that is specifically
allowed/disallowed under the provisions of the
Income Tax Act and PU orders as guided by
IRBs Public Rulings.
j) Explain the tax implications of non compliance
with withholding tax provisions.
k) Compute income chargeable to income
tax.
Research and development expenditure. Capital allowances on a disposal subject to
control.
Capital expenditure on mines. Forest expenditure. Expenditure on prospecting operations. Tax incentives
a) Compute the income tax liability and apply
appropriate tax rates
b) Explain how exemptions and reliefs can defer
or minimise income tax liabilities.[2]
c) Explain the treatment of unabsorbed losses
and unabsorbed capital allowances brought
forward from the previous year of
assessment.[2]
d) Compute the amount of unabsorbed losses and
unabsorbed capital allowances from previous
year of assessment that can be utilised to set
off against the income of the current
year of assessment.[2]
The effect of a change in shareholding of acompany on unabsorbed losses and
unabsorbed capital allowances.
The transition to the single tier dividendsystem.
a) Describe the scope of real property gains tax.
b) Explain the cases where the acquirer may be
assessed.
Bodies of persons, partnerships and co-proprietorship.
Incapacitated persons Real property companies
a) Compute real property gains .
b) Calculate the allowable losses.
c) Explain how acquisition price and disposal
price are calculated.
d) List the incidental costs.
e) Recognise the expenditure that is excluded in
computing acquisition price and disposal
price.
f) Explain the meaning of permitted expenses
g) Explain the tax implications of transfers
between husband and wife
Real property acquired prior to 1 January1970
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Transfers related to death or inheritance. Conditional contracts. Leases and options. Contingent liabilities. Dealings for enforcement of security.
a) Define the terms real property, land,
acquire, and dispose .
b) Explain what constitutes acquisition anddisposal.
c) Determine the date of acquisition and date of
disposal.[2]
d) Explain the determination of acquisition price
and disposal price.[2]
The disposal of leases and the creation of sub-leases.
Transfer of assets between companies in thesame group.
Transfer of assets to controlled companies. Real property companies gains on the
disposal of RPC shares and shares issued in
exchange for the transfer of property
Distribution of assets of a partnership. Dealings by nominees and certain trustees Trustees and partners
a) Calculate the Schedule 4 exemption on a
chargeable gain accruing to individuals.
b) Compute the gain and explain the application
of the exemption on the disposal of private
residences.
c) Compute the amount of real property gains tax
payable.
a) Recognise the tax advantage on the disposal of
private residences.
b) Identify the appropriate timing for the disposal
of real property.
a) Describe the scope of sales tax.
b) Explain the charge on taxable goods and
taxable persons.[2]
c) Describe the places deemed to be outside
Malaysia.
d) Describe the circumstances in which sales tax
is not applicable.
Special provisions dealing with Labuan Special provisions dealing with Langkawi Special provisions dealing with Tioman Special provisions dealing with petroleum
a) Recognise the circumstances in which a person
must register for sales tax.
b) Describe the requirements for a certificate of
exemption from licensing for sales tax.
c) Explain the circumstances for
the surrender/revocation of a sales taxlicence.[2]
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a) Explain how sales tax is accounted for and
administered.[2]
b) Recognise transactions that are regarded as a
sale for sales tax.[2]
c) List the information that must be given on an
invoice.[1]
d) Explain and apply the principles of sales value,
including the rules of valuation.[2]
e) Calculate the amount of sales tax.[2]
a) Explain the circumstances for the reduction of
sales tax by the issue of credit notes.[2]
b) List the particulars that must be contained in
the credit note.[1]
c) Explain the circumstances for drawback.[2]
d) Explain the circumstances for refund andremission.[2]
e) Compute the amount of refund of sales tax paid
for bad debts written off and the repayment of
the refund to the Customs Department when
the bad debts are subsequently recovered.[2]
f) Explain the circumstances for exemption.[2]
g) Describe the facilities available to licensed
manufacturers to acquire materials free of sales
tax in manufacturing taxable goods. [2]
The direction to treat persons as a singletaxable persons
Liquidator of company to give notice ofwinding-up, and set aside tax.
Appointment of receiver to be notified to theDirector General
a) Describe the scope of service tax.
b) List the taxable services and taxable persons.
c) Describe the places deemed to be outside
Malaysia.[1]
d) Describe the circumstances in which service
tax is not applicable.[2]
a) Recognise the circumstances in which a person
must register for service tax.
b) Define the term annual sales turnover.
c) Compute the total annual sales turnover of a
person to determine the threshold limit.[2]
d) Explain the circumstances for the
surrender/revocation of a license.
a) Explain how service tax is accounted for and
administered.
b) Define the terms goods and taxable period.
c) List the information that must be given on an
invoice
d) Determine the charge and value of a taxable
service including the taxable service for the
sale of goods
e) Explain how service tax is levied
f) Calculate the amount of service tax [2]
a) Explain the circumstances for refund and
remission.
b) Compute the amount of refund of service taxpaid for bad debts written off and the
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repayment of the refund to the Customs
Department when the bad debts are
subsequently recovered.
c) Describe the procedure for refund.
The direction to treat persons as a singletaxable person.
Taxable service provided by a company in agroup of companies.
Liquidator of company to give notice ofwinding-up, and set aside tax.
Appointment of receiver to be notified to theDirector General.
a) Explain and apply the features of the self-
assessment system as it applies toindividuals.
b) Explain and apply the features of the self-
assessment system as it applies to
companies.
c) Explain the responsibilities and obligations of
employers under the Income Tax Act.
d) Explain the obligations of taxable persons for
the purposes of sales tax/service tax.[2]
a) Recognise the time limits that apply to the
filing of returns and the making of claims.
b) Recognise the due dates for the payment of tax
under the self-assessment system.
c) Recognise the due dates for the payment ofsales tax/service tax.[2]
d) Compute payments on account and balancing
payments/repayments for individuals.
e) Explain how and when companies are
required to make a tax estimate/revised
estimate.
f) List the information and records that taxpayers
need to retain for tax purposes.
a) Describe the obligations of persons to withhold
tax on making certain types of payment to non-
residents and explain the consequences of non-
compliance or late compliance.
a) Explain the circumstances in which the
Director General of Inland Revenue can enquire
into a self-assessment tax return.
b) Explain the procedures for dealing with appeals
and disputes.
a) Calculate penalties on overdue income
tax/sales tax/service tax.
b) Compute the penalties that can be
charged on underestimates of income tax.
c) Compute the penalties that can be charged on
a person other than a company when the tax
payable under an assessment exceeds the total
of the instalments payable resulting from an
application by the taxpayer to vary the
instalment payment. [2]
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ACCA periodically reviews it qualification
syllabuses so that they fully meet the needs of
stakeholders such as employers, students,
regulatory and advisory bodies and learning
providers.
B3f) Income from self-employment Wording amended for clarity
B3g)ix) Income from self-employment Clarified to include charges
B3h)i) Income from self-employment Wording amended for clarity
B3h)iii) Income from self-employment Wording amended for clarity
B3i)ii) Income from self-employment Wording amended for clarity
B5 The comprehensive computation of chargeableincome and income tax liability
Wording amended to chargeable income
C1b)ii) The scope of income tax Wording amended for clarity
C2h) Income chargeable to income tax Wording amended for clarity
C2i) Income chargeable to income tax Wording amended for clarity
C2 Income chargeable to income tax - Excluded topics Relief for intangible assets deleted as excluded topic,
therefore becoming examinable
C3c) The comprehensive computation of income tax
liability
Wording amended for clarity
C3d) The comprehensive computation of income tax
liability
Wording amended for clarity
D2b) The basic principles of computing chargeablegains and allowable losses
Wording amended for clarity
D2f) The basic principles of computing chargeable
gains and allowable losses
Acquisition price in particular cases deleted, and
remaining parts renamed f) and g)
D2 The basic principles of computing chargeable gains
and allowable losses Excluded topics
New excluded topic added transfers related to death
or inheritance
D3c) Gains and losses on the disposal of real property Replaced with new part (c) and (d)
G1c) The system for self-assessment/assessment and
the making of returns
Wording amended for clarity
G3a) Withholding tax at source Clarified to include late compliance